Hong Kong IPO disclosure precedents · 255 companies, 282 items
a director, shareholder or their associates has an interest in a top-five customer or supplier, or a major customer / supplier is a shareholder or former employee's entity
In 2020, 2021 and 2022, the number of distributors who were or were beneficially owned by our former employees totaled 7, 7 and 9, respectively.
Business · p. 171
Revenue generated from such distributors accounted for approximately 0.6%, 0.4% and 0.3% of our total revenue in 2020, 2021 and 2022, respectively.
Business · p. 171
All commercial and operative provisions of our agreements with such distributors are entirely identical to those with any other independent distributors.
Shanghai Qijian and Yinsai are our related parties.
Business · p. 264
In addition, Mr. Cheng Wei, who was appointed as our vice president in August 2021, used to control the majority shares of Supplier G and transferred his entire holdings of interests to an independent third party of our Company as required by our internal policies.
Business · p. 264
We also established our own IT team and procured the entire development software of “Hui Investment” in 2020, which led to the termination of our cooperation with Yinsai in 2020 and Shanghai Qijian in 2021.